June 17, 2004 - May 2004 Sales Figures
(Housing Statistics) May new home sales maintain pace

Toronto— Sales of new homes and condominiums remained strong throughout
the Greater Toronto Area in May. A total of 4,420 homes were sold, up 2 per
cent over last May, Mark Parsons, president of the Greater Toronto Home Builders'
Association revealed today.

“For the year to date, total sales are up 14 per cent from last year’s
numbers. Sales have been buoyed by the high-rise apartment sector which is
up 41 per cent year over year. High-rise sales in York and Peel regions are
particularly strong, more than doubling over 2003, while the city of Toronto
has increased at a more modest rate of 22 per cent,” said Parsons.

May new home sales, prepared for the GTHBA by RealNet Canada Inc. were split
68 per cent low-rise and 32 per cent high-rise. The top five municipalities
were Toronto, 1,021; Mississauga, 589; Brampton, 497; Markham, 426 and Richmond
Hill, 336

The new home sales were prepared for the GTHBA
by RealNet Canada Inc.

For further information:
Suzanna Cohen, Director of Communications 416-391-3450